Piper Jaffray Companies Reiterates “Hold” Rating for Oritani Financial Corp. (NASDAQ:ORIT)

Piper Jaffray Companies reiterated their hold rating on shares of Oritani Financial Corp. (NASDAQ:ORIT) in a research report report published on Thursday. They currently have a $17.00 price target on the bank’s stock.

Several other analysts have also commented on ORIT. BidaskClub lowered shares of Oritani Financial Corp. from a sell rating to a strong sell rating in a research report on Sunday, July 16th. ValuEngine upgraded shares of Oritani Financial Corp. from a hold rating to a buy rating in a research report on Thursday, July 20th.

Oritani Financial Corp. (NASDAQ:ORIT) traded up 0.61% on Thursday, hitting $16.50. 155,214 shares of the company were exchanged. Oritani Financial Corp. has a 52 week low of $15.35 and a 52 week high of $19.00. The company has a market capitalization of $681.43 million, a P/E ratio of 15.00 and a beta of 0.33. The firm’s 50 day moving average is $17.04 and its 200 day moving average is $16.97.

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The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.70 annualized dividend and a yield of 4.24%. Oritani Financial Corp.’s dividend payout ratio is presently 63.64%.

In other Oritani Financial Corp. news, SVP Philip Wyks sold 10,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $16.67, for a total transaction of $166,700.00. Following the transaction, the senior vice president now directly owns 26,698 shares of the company’s stock, valued at $445,055.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Guinan sold 59,772 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $16.85, for a total transaction of $1,007,158.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,772 shares of company stock worth $2,276,358. 15.27% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of ORIT. Texas Permanent School Fund increased its position in Oritani Financial Corp. by 0.6% in the first quarter. Texas Permanent School Fund now owns 27,893 shares of the bank’s stock valued at $474,000 after buying an additional 174 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Oritani Financial Corp. by 2.7% in the first quarter. Tudor Investment Corp ET AL now owns 14,102 shares of the bank’s stock valued at $240,000 after buying an additional 373 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Oritani Financial Corp. by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the bank’s stock valued at $267,000 after buying an additional 400 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Oritani Financial Corp. by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,063 shares of the bank’s stock valued at $137,000 after buying an additional 405 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Oritani Financial Corp. by 2.6% in the first quarter. Arizona State Retirement System now owns 20,102 shares of the bank’s stock valued at $342,000 after buying an additional 500 shares during the last quarter. 64.34% of the stock is currently owned by institutional investors and hedge funds.

Oritani Financial Corp. Company Profile

Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans.